Market Size of Nephrostomy Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Nephrostomy Devices Market Analysis
The nephrostomy devices market is expected to register a CAGR of 7.8% during the forecast period.
- COVID-19 significantly impacted the nephrostomy devices market during the initial wave since many of the nephrology-related surgeries and consultations were delayed due to the global lockdown. For instance, as per the article published in December 2021 in PubMed, the COVID-19 epidemic pushed urology departments around the world to restructure care due to inadequate resources and personnel. Hence, the nephrostomy devices market was impacted by the pandemic. However, as the restrictions are relaxed, the market is expected to witness growth in the coming years due to the increase in kidney diseases and the rise in the adoption of nephrostomy devices.
- Factors such as an increase in kidney diseases, a rise in demand for minimally invasive surgeries, and technological advances in nephrostomy devices are expected to drive market growth over the forecast period. For instance, as per the American Cancer Society 2023 cancer statistics, about 81,800 new cases of kidney cancer are estimated to be diagnosed in the United States in 2023. This figure was an increase from 79,000 cases in 2022.
- Hence, the high prevalence of kidney diseases is likely to increase the demand for nephrostomy devices since people with cancer may need a nephrostomy if there is a blockage in the urinary system, thereby driving market growth over the forecast period. The demand for minimally invasive surgeries(MIS) is also one of the major factors driving the market growth over the forecast period. For instance, as per the article published in September 2022 in JAMA Network, compared with open surgery, minimally invasive surgery has been found to have a shorter length of hospital stay, reduced blood loss, lower rates of postoperative morbidity, reduced operative pain, improved cosmesis, and equivalent oncological outcomes. Hence, considering the advantages offered by MIS in nephrostomy, the demand for Nephrostomy devices is likely to increase over the forecast period.
- Hence, increasing cases of kidney diseases, and rise in demand for minimally invasive surgical procedures, and increased awareness about the product are the key driving factors in the nephrostomy devices market. However, the rise in alternative procedures and risks associated with nephrostomy is expected to restrain the market growth over the forecast period.
